Go to Jeff Salisbury LWGate Home Page.From: Hong Hsu <honghsu@bellatlantic.net>
Subject: Re: [CANSLIM] Deduction Subject to 2% Limit
Date: Wed, 23 Jul 2003 08:16:34 -0400
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Gene, Thanks.
Does anyone use Schedule A to tax return 1040 here. What is your first
two big chunk of deductions on Schedule A?
- -Hong
Gene Ricci wrote:
> Hong, if you don't have enough deductions to itemize, I doubt that
> deducting investment expenses in excess of 2% will make the difference....
>
> *assuming your adjusted gross income is $50,000
> *the 2% limit means that you must have expenses greater than 0.02 x
> $50k or $1,000
> *if you subscriptions cost you $1100 per year, only $100 is deductible...
>
> I doubt that partial mortgage/rent is deductible unless you are
> classified a trader.
>
> Gene
>
>
> ----- Original Message -----
> From: Hong Hsu <mailto:honghsu@bellatlantic.net>
> To: canslim@lists.xmission.com <mailto:canslim@lists.xmission.com>
> Sent: Tuesday, July 22, 2003 10:10 PM
> Subject: Re: [CANSLIM] Deduction Subject to 2% Limit
>
> Gene and Mike,
>
> I got a dumb question. Even you can put IBD subscription and
> breakoutwatch.com online service fee into Schedule A as investor,
> is it
> worth to give up Standard Deduction? For married filling jointly,
> the
> standard deduction is $7,850. Can you put partial of your
> mortgage or
> rent onto Schedule A as investment expenses? If not, what is big
> chunk of miscellaneous itemized deduction?
>
> I have no intention to knowing your expenses. I am just curious
> is it
> worth to use Schedule A. I maybe wrong.
> -Hong
>
>
>
>
> -
> -To subscribe/unsubscribe, email "majordomo@xmission.com
> <mailto:majordomo@xmission.com>"
> -In the email body, write "subscribe canslim" or
> -"unsubscribe canslim". Do not use quotes in your email.
>
- --
<Linux kernel:>< As a computer I find your faith in technology amusing.
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Gene, Thanks. <br>
<br>
Does anyone use Schedule A to tax return 1040 here. What is your first two
big chunk of deductions on Schedule A?<br>
<br>
- -Hong<br>
<br>
<br>
Gene Ricci wrote:<br>
<blockquote type="cite" cite="mid00a701c350cd$7245f150$6401a8c0@desktop">
<meta http-equiv="Content-Type" content="text/html; ">
<meta content="MSHTML 6.00.2800.1106" name="GENERATOR">
<style></style>
<div><font face="Comic Sans MS">Hong, if you don't have enough deductions
to itemize, I doubt that deducting investment expenses in excess of 2% will make
the difference....</font></div>
<div> </div>
<div><font face="Comic Sans MS">*assuming your adjusted gross income is
$50,000</font></div>
<div><font face="Comic Sans MS">*the 2% limit means that you must have
expenses greater than 0.02 x $50k or $1,000</font></div>
<div><font face="Comic Sans MS">*if you subscriptions cost you $1100 per
year, only $100 is deductible...</font></div>
<div> </div>
<div><font face="Comic Sans MS">I doubt that partial mortgage/rent is deductible
unless you are classified a trader.</font></div>
<div> </div>
<div><font face="Comic Sans MS">Gene</font></div>
<div> </div>
<blockquote
style="border-left: 2px solid rgb(0,0,0); padding-right: 0px; padding-left: 5px; margin-left: 5px; margin-right: 0px;">
<div
style="font-family: arial; font-style: normal; font-variant: normal; font-weight: normal; font-size: 10pt; line-height: normal; font-stretch: normal; font-size-adjust: none;">-----
Original Message ----- </div>
<div
style="background: rgb(228,228,228) none repeat scroll 0%; font-family: arial; font-style: normal; font-variant: normal; font-weight: normal; font-size: 10pt; line-height: normal; font-stretch: normal; font-size-adjust: none;"><b>From:</b>
<a title="honghsu@bellatlantic.net"
href="mailto:honghsu@bellatlantic.net">Hong Hsu</a> </div>
<div
style="font-family: arial; font-style: normal; font-variant: normal; font-weight: normal; font-size: 10pt; line-height: normal; font-stretch: normal; font-size-adjust: none;"><b>To:</b>
<a title="canslim@lists.xmission.com"
href="mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</a>
</div>
<div
style="font-family: arial; font-style: normal; font-variant: normal; font-weight: normal; font-size: 10pt; line-height: normal; font-stretch: normal; font-size-adjust: none;"><b>Sent:</b>
Tuesday, July 22, 2003 10:10 PM</div>
<div
style="font-family: arial; font-style: normal; font-variant: normal; font-weight: normal; font-size: 10pt; line-height: normal; font-stretch: normal; font-size-adjust: none;"><b>Subject:</b>
Re: [CANSLIM] Deduction Subject to 2% Limit</div>
<div><br>
</div>
Gene and Mike,<br>
<br>
I got a dumb question. Even you can put IBD subscription and <br>
breakoutwatch.com online service fee into Schedule A as investor, is it
<br>
worth to give up Standard Deduction? For married filling jointly, the
<br>
standard deduction is $7,850. Can you put partial of your mortgage or
<br>
rent onto Schedule A as investment expenses? If not, what is big <br>
chunk of miscellaneous itemized deduction? <br>
<br>
I have no intention to knowing your expenses. I am just curious is it
<br>
worth to use Schedule A. I maybe wrong.<br>
- -Hong<br>
<br>
<br>
<br>
<br>
- -<br>
- -To subscribe/unsubscribe, email "<a
href="mailto:majordomo@xmission.com">majordomo@xmission.com</a>"<br>
- -In the email body, write "subscribe canslim" or<br>
- -"unsubscribe canslim". Do not use quotes in your email.<br>
</blockquote>
</blockquote>
<br>
<pre class="moz-signature" cols="$mailwrapcol">--
<Linux kernel:>< As a computer I find your faith in technology amusing.</pre>
<br>
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